Cuts Come Before Planned Scient Merger

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NEW YORK (AdAge.com) -- Atlanta-based I-shop iXL is laying off 300 of its 800 employees as part of the restructuring required for its planned merger with competitor Scient.

The company will be consolidating offices in Boston, Chicago, Dallas, London and New York, but all offices will be affected by the layoff.

IXL said the combined companies believe they can save $100 million as a merged entity and aim to achieve profitability on an EBITDA -- earnings before interest, taxes, depreciation and amortization -- basis in the first full quarter that the two companies are combined.

The merger is expected to close by year's end.

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